+209 Sharon earned $460 in simple interest on an investment of $6200. Some of the money earned an interest rate of 5% and the rest earned 8%. Her average rate of interest was 7.4%. How much did she invest at each rate?
+36916 amount at 5% = x
amaount at 8% = 6200-x
x(.05) + (6200-x)(.08) = 460
.05x + 496- .08x = 460
-.03x = -36
x = $1200 at 5%
6200-1200 = $ 5000 at 8%
+36916 amount at 5% = x
amaount at 8% = 6200-x
x(.05) + (6200-x)(.08) = 460
.05x + 496- .08x = 460
-.03x = -36
x = $1200 at 5%
6200-1200 = $ 5000 at 8%
